OBJECTIVES OF BUSINESS

Introduction-
objectives are needed in every area where performance and results directly and vitally affects survival and prosperity of the business.The objectives of the business is classified into three broad categories: economic, social, human objectives.

• economic objectives;

The economic objectives involve a number of consideration or elements beginning with earning a profit after rewarding the factors of production.

1. earning profit:profit generally is the making of gain in business activity for the benefit of the owners of the business. The word comes from Latin meaning "to make progress", and is defined in two different ways, one for economics and one for accounting.

2. production of goods and services:business produces goods and services for the people and for the purpose of earning profit.

3.creation of market:business cannot survive without customers. the objectives of the business is to find out what consumers wants and provide it in the place where it is to be provided

4.technology development:business uses new and advance technology to increase production and reduce in order to face the competition. Both these contribute to the objectives of profit maximization directly and in directly. Business produces products with new features using advanced technology.

INTRODUCTION OF BUSINESS

All the human activities related to earning money or money's worth are business activities. These activities may relate to creation of purchase, utility and sale of goods and services. therefore, business business is an economic activity people not only earn a living but also try to maximize the profit and create wealth carrying different business activities. it requires sufficient capital run the day-to-day operations and invest in physical structures like land, buildings, and other tangible assets.
a business is a legally recognized organization designed to provide goods and services to the people.the owner and the business has the receipt or generation of profit and financial return as its main objectives.notable exceptions includes cooperative enterprises and state -owned enterprises.business can also be formed as not-for-profit or be state-owned.